Open Badge 1st Place Team

Marketplace Simulations Open Badge for first place team

1st Place Team

Upon completion of each Marketplace simulation game, this badge is awarded to the members of the winning team.

What is a Marketplace simulation?

Marketplace is an educational game that provides learners with a simulated business environment in which participants use their business knowledge and gain realistic experience. Students apply the theory from business courses in practical business situations, thus developing business acumen and critical workplace skills.

What do learners do in the simulation that develops business skills?

While playing Marketplace, teams start up and manage their own business division or company. Players build product portfolios, advertising campaigns, and distribution channels using evolving analytics data. They manage demand, sales, operations, and finances in a realistic game-world with limited resources. To succeed, students must build customer-focused businesses and stay ahead of the competition.

Marketplace simulations assess performance with the Balanced Scorecard, a managerial tool widely used in business. Players learn that to maximize their company’s performance, they must balance financial success, customer satisfaction, operational efficiency, and employee satisfaction.

What does it take to win 1st place in a Marketplace simulation?

The winning team in Marketplace is determined by the highest cumulative Balanced Scorecard within a game across several simulated business quarters. This requires consistent performance, careful attention to feedback metrics, perseverance, agility, and problem-solving skills. Therefore, the holder of this badge demonstrated the business skills and work ethic necessary to manage their company toward excellence over crucial stages of the company’s life cycle.

Teams that win a Marketplace game work to understand and respond to the simulated market.

In a game of 6 teams, 5 graphs show all teams starting at the same point. However by business quarter 4 in the game, one team begins pulling ahead. When all measures are combined at the end, this team’s performance and effort put them much farther ahead than the other teams.
The example game data selected here demonstrates all teams in this game learning and improving. Performance metrics are tailored to the learning content of a particular simulation to maximize learning from undergraduate to EMBA.

Who is Marketplace Simulations?

Marketplace Simulations is a family of over 30 marketing and business simulations designed for university business courses and executive business programs. Marketplace Simulations allow learners to experiment with business strategies, test ideas, and experience the consequences of their actions in a virtual business environment. As players apply business theory to make strategic and tactical business decisions, they develop skills critical to succeed in today’s business world. Marketplace is available for many skill levels and business disciplines, and used by tens of thousands of students in learning programs worldwide.